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SB 3112

Mississippi - Session 2026

Senate failed 2026-02-25
Bill Details

Title: Income tax; authorize credit for fuel tax paid by commercial and charter boaters for fuel used on water rather than roads.

Summary

AN ACT TO AUTHORIZE AN INCOME TAX CREDIT FOR TAXES PAID UNDER SECTIONS 27-55-519 AND 27-55-521 BY A CHARTER BOAT OPERATOR OR A COMMERCIAL FISHERMAN ON THE PURCHASE OF FUEL USED ON BODIES OF WATER, RATHER THAN ON ROADS OR HIGHWAYS; TO PROVIDE THAT ANY UNUSED PORTION OF THE CREDIT MAY BE CARRIED FORWARD FOR THE FIVE SUCCEEDING TAX YEARS; TO PROVIDE THAT THE AMOUNT OF THE CREDIT THAT MAY BE UTILIZED IN ANY TAX YEAR SHALL NOT EXCEED THE TOTAL STATE INCOME TAX LIABILITY OF THE TAXPAYER FOR THAT YEAR; TO PRESCRIBE THE CONTENT REQUIRED IN THE APPLICATION FOR THE CREDIT; TO AUTHORIZE THE DEPARTMENT OF REVENUE TO PROMULGATE REGULATIONS AS NEEDED TO ADMINISTER THIS ACT; AND FOR RELATED PURPOSES.

Sponsor
Mike Thompson
Official Source Back to Bills
Actions Timeline
Date Event Detail
2026-02-17 Introduced Bill introduced
2026-02-25 Status failed
2026-02-25 Latest Action (S) Died In Committee
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